Transcript Workshop on Operations Research: An Introduction
Workshop on Operations Research: An Introduction
Jointly organized by ORSI Ahmedabad Chapter & Management Research Foundation (MRF) February 18, 2007 OR: An Introduction N. Ravichandran
Operations Research Society of India (ORSI)
February 18, 2007 OR: An Introduction N. Ravichandran
Management Research Foundation (MRF)
February 18, 2007 OR: An Introduction N. Ravichandran
Objectives
• To facilitate evolution of young men and women to become world class management researchers and teachers • To create a cadre of management professionals with a strong bias towards research in management and a broad exposure to management discipline.
• To facilitate and improve the available faculty resource quality in various management institutions in India.
• To enhance and promote quality research in the Indian context with an optimal balance of practical application and relevance.
February 18, 2007 OR: An Introduction N. Ravichandran
Workshop Schedule
0900 – 0930 Inauguration + Registration 0930 - 1100 Introduction to Operations Research 1100 – 1130 Beverages 1130 – 1300 Optimization 1300 – 1400 Lunch 1400 – 1530 Decision Analysis 1530 – 1600 Beverages 1600 – 1730 Decision Support Systems 1730 – 1800 Conclusion February 18, 2007 OR: An Introduction N. Ravichandran
Content
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Introduction to OR
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Genesis of OR OR tool, techniques and methodology OR applications OR and business Faculty: N. Ravichandran, IIMA
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Optimization
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Problem formulation Linear Programming Application Extension of Linear Programming Faculty: Devanath Tirupati, IIMA
February 18, 2007 OR: An Introduction N. Ravichandran
Content
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Decision Analysis
– Problem structuring – Understanding uncertainity – Sample information – Value of sample information
Faculty: Tathagata Bandyopadhyay, IIMA
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Decision Support System
– Evolution of DSS – Spreadsheet based DSS – Potential applications
Faculty: T.P. Rama Rao, IIMA
February 18, 2007 OR: An Introduction N. Ravichandran
What is OR ?
• World War by Product • Improved decision making • Resource optimization • Optimal strategy in conflicting situations February 18, 2007 OR: An Introduction N. Ravichandran
Evolution of OR
• Tactical decisions to a major scientific discipline • Multi disciplinary • Mathematics, Statistics, Computer Science, Systems Analysis February 18, 2007 OR: An Introduction N. Ravichandran
Composition of OR
• Tools • Techniques • Methodology • Choice depends on the complex nature of the problem February 18, 2007 OR: An Introduction N. Ravichandran
Possible applications
• Resource Allocation – Product Mix – Transportation – Blending – Portfolio of stocks • Risk Assessment – Investment decision – Oil explorations – Commodity markets and Auction February 18, 2007 OR: An Introduction N. Ravichandran
Possible applications
• Industry applications – Call center design – Facility layout – Location of plant – Design of workflow in Ports • Models for profit – Optimized sourcing – Max utilization of capacity – Revenue Management, Yield – Where to sell, what, when – Supply chain optimization February 18, 2007 OR: An Introduction N. Ravichandran
Possible applications
• Decision support system – Traffic pattern planning – Dynamic Management of Resource allocation – Model for Economic Planning • Applications in Government – RPO / RTO – Speed disposal of cases – Manpower planning in Government department – Process simplification – Process Automation and many more !
February 18, 2007 OR: An Introduction N. Ravichandran
Stages in OR application
• Analysis of a situation • Distinction between the problem and consequence • Select an appropriate set of alternatives • Evaluation of alternatives • Decide the best course of action • Explore implementation • Validate and improve February 18, 2007 OR: An Introduction N. Ravichandran
Contact Details
Q & A Website: http://www.orsiahmedabad.org
February 18, 2007 OR: An Introduction N. Ravichandran